UK plc 2050

Business and Trade Committee Closed Non-inquiry session
Opened: 1 Feb 2023 Closed: 24 Apr 2023 Parliament page
5 Recommendations
9 Conclusions
1 Report
2 Oral sessions
2 Letters
2 Events
Activity timeline 8 events
7 Sep
2023
Report published
24 Mar
2023
Report published
21 Mar
2023
Correspondence
14 Mar
2023
Correspondence
28 Feb
2023
Oral evidence
28 Feb
2023
Formal meeting (oral evidence session) · Room 8, Palace of Westminster
7 Feb
2023
Oral evidence
7 Feb
2023
Formal meeting (oral evidence session) · Room 8, Palace of Westminster
Oral evidence sessions 2 sessions
28 Feb 2023
View on parliament.uk
Buffy Price · Carbon Re Burkhard Keese · Lloyd’s Caroline Keohane · Food and Drink Federation Dr Richard Torbett · Association of the British Pharmaceutical Industry (ABPI) Mike Hawes · Society of Motor Manufacturers and Traders (SMMT) Miles Celic · TheCityUK
7 Feb 2023
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Dr Anna Valero · LSE Lord Deben · Climate Change Committee Mike Keoghan · Office for National Statistics Torsten Bell · Resolution Foundation
Title HC No. Published Items Response
Ninth Report - UK plc HC 1120 24 Mar 2023 14 Responded
Recommendations & Conclusions
14 results
1 Conclusion Accepted
Ninth Report - UK plc
Part of the reason why the UK achieves lower productivity rates than other advanced economies...
Part of the reason why the UK achieves lower productivity rates than other advanced economies is that levels of business investment and research and development investment have fallen behind.
Government Response
The government outlines ongoing reviews and changes to R&D tax reliefs aimed at supporting innovation, including increasing the R&D Expenditure Credit rate and introducing a new rate for R&D intensive SMEs.
Department for Business and Trade
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2 Conclusion Not Addressed
Ninth Report - UK plc
We welcome the Chancellor’s announcement on full expensing for capital investment but highlight the short...
We welcome the Chancellor’s announcement on full expensing for capital investment but highlight the short period of time that this policy is available for businesses. Many businesses will make much longer-term investment decisions which could benefit from making this change … Read more
Government Response
The government discusses the R&D tax relief review and related changes, but does not address the committee's point about making full expensing for capital investment permanent to provide long-term investment stability.
Department for Business and Trade
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3 Recommendation Deferred
Ninth Report - UK plc
Whilst we recognise some of the challenges associated with the previous R&D tax credits scheme,...
Whilst we recognise some of the challenges associated with the previous R&D tax credits scheme, we call on the Government to conduct an annual review of the impact of recent changes on overall R&D investment in the UK to ensure … Read more
Government Response
The government states the R&D tax relief review is ongoing, and a decision on whether to merge schemes will be made at the next fiscal event, deferring the specific request for an annual review of impact.
Department for Business and Trade
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4 Conclusion Accepted
Ninth Report - UK plc
There is a need to raise not just the basic skill levels of young people...
There is a need to raise not just the basic skill levels of young people entering the workforce but also their digital and “green” skills, both of which contribute to enhancing productivity in the modern digitalised economy.
Government Response
The government states that the Green Jobs Taskforce reported its conclusions in July 2021, and that policies and strategies are in place to address the challenges identified.
Department for Business and Trade
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5 Conclusion Accepted
Ninth Report - UK plc
Witnesses supported the apprenticeship levy in principle but told us that more Government support for...
Witnesses supported the apprenticeship levy in principle but told us that more Government support for skills development should be directed to upskilling existing members of the workforce, whether through reform of the apprenticeship levy or other mechanisms. Read more
Government Response
The government is already addressing skills development for net zero through the Green Jobs Taskforce, Net Zero Strategy, and the Green Jobs Delivery Group, which includes ministers from across Government and industry representatives.
Department for Business and Trade
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6 Recommendation Accepted
Ninth Report - UK plc
We note that there are numerous Ministers with responsibility for skills—from compulsory, further, and higher...
We note that there are numerous Ministers with responsibility for skills—from compulsory, further, and higher education to adult and in-work training. The Government previously coordinated a ‘Green Skills Taskforce’ between the then Department for Business, Energy and Industrial Strategy and … Read more
Government Response
The government refers to the existing Green Jobs Delivery Group, co-chaired by ministers and industry representatives, as a means of grappling with skills shortages.
Department for Business and Trade
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7 Conclusion Acknowledged
Ninth Report - UK plc
There was support amongst witnesses for greater use of automation and a more flexible migration...
There was support amongst witnesses for greater use of automation and a more flexible migration scheme as part of the solution to labour shortages in the UK.
Government Response
The government acknowledges the committee's observation regarding witness support for greater use of automation and a more flexible migration scheme.
Department for Business and Trade
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8 Conclusion Acknowledged
Ninth Report - UK plc
We note the wide range of measures affecting the labour market announced by the Chancellor...
We note the wide range of measures affecting the labour market announced by the Chancellor in the 2023 Budget, which we will consider and respond to in our adjacent inquiry on the UK Labour Market.
Government Response
The government acknowledges the committee's note, stating they will consider and respond to the measures affecting the labour market announced in the 2023 Budget in their adjacent inquiry.
Department for Business and Trade
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9 Conclusion Accepted
Ninth Report - UK plc
Regional disparities in productivity are limiting the UK’s economic growth.
Regional disparities in productivity are limiting the UK’s economic growth. A concentration of resources towards cities outside London and to improving regional productivity should be a priority for the country’s overall economic growth. (Paragraph 38) UK plc 17 Government and … Read more
Government Response
The government describes existing initiatives aimed at addressing regional productivity disparities and improving living standards, such as the Levelling Up Mission, investments in city regions, and expansion of devolution.
Department for Business and Trade
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10 Conclusion Acknowledged
Ninth Report - UK plc
The regulatory landscape has changed significantly for many industries following the UK’s exit from the...
The regulatory landscape has changed significantly for many industries following the UK’s exit from the European Union. Witnesses representing business sectors acknowledged the need for effective regulation, but they were clear that it needed to be appropriate and developed by … Read more
Government Response
The government agrees that regulation development should include effective engagement with business and key stakeholders and highlights the Better Regulation Framework. They also plan to launch a reformed Framework later this summer.
Department for Business and Trade
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11 Conclusion Acknowledged
Ninth Report - UK plc
Witnesses from a range of industrial sectors were clear that they value partnership with Government...
Witnesses from a range of industrial sectors were clear that they value partnership with Government to deliver targets as well as effective regulation, and that the recent industrial strategy and sector deals had been beneficial.
Government Response
The Government agrees that the development of regulation should include effective engagement with business and other key stakeholders, with reformed Better Regulation Framework launched to broaden early-stage impact assessments for significant regulations including impacts on businesses, households, trade, competition and innovation.
Department for Business and Trade
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12 Recommendation Accepted
Ninth Report - UK plc
We call on the Government to ensure effective partnerships with business and other related parties...
We call on the Government to ensure effective partnerships with business and other related parties on the development of regulation, with better use of impact assessments. It would be for the Government, industry, and regulators to determine the form of … Read more
Government Response
The Government agrees with effective engagement with business and key stakeholders, with reformed Better Regulation Framework launched to broaden early-stage impact assessments for significant regulations including impacts on businesses, households, trade, competition and innovation.
Department for Business and Trade
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13 Recommendation Accepted
Ninth Report - UK plc
The Regulatory Policy Committee should be supported for its work in supporting Parliament in understanding...
The Regulatory Policy Committee should be supported for its work in supporting Parliament in understanding the impact of proposed regulation and we recommend these impact assessments are used much more widely throughout the legislative process. Given the transfer of regulatory … Read more
Government Response
The Government is committed to ensuring Parliament has information to scrutinise regulatory proposals and that impact assessments are published, with independent scrutiny taking place at an earlier stage in the development of proposals.
Department for Business and Trade
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14 Recommendation Accepted
Ninth Report - UK plc
We note that the Chancellor referred to an ‘industrial strategy’ in his Budget statement, but...
We note that the Chancellor referred to an ‘industrial strategy’ in his Budget statement, but that no industrial strategy was published. Given the global context referred to by our witnesses, and the very real threat of UK investments being tempted … Read more
Government Response
The government identifies five key growth sectors, outlines support measures in the Spring Budget (R&D tax credits, carbon capture investment, investment zones), mentions regulatory measures to reduce red tape, and highlights ongoing dialogue with businesses.
Department for Business and Trade
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Government Response AI assessment · 14 of 5 classified
Accepted 8
Acknowledged 4
Deferred 1
Not Addressed 1
Total 5 recs + 9 conclusions
Correspondence 2 letters
21 Mar 2023 To committee Letter from TheCityUK relating to session on UK plc 2050, 10 March 2023
Parliament page
14 Mar 2023 To committee Letter from the Chief Executive of ABPI relating to the Committee's session on UK plc 2050, 7 March 2023
Parliament page